The US dollar continues to be trading weakly since the opening of the week earlier this week as the market maintained expectations for interest rate cuts by the Federal Reserve (Fed) this week.
The results of the September FOMC meeting will be known early on Thursday morning and will surely be a huge movement in the financial market.
After observing indicators on previous published data including inflation and jobs, the market is confident that the policy flexion will be resumed by the Fed once interest rates are maintained throughout the year.
The US dollar has now dropped to 4 years from the euro, reaching a level since September 2021.
Other major currencies take the opportunity to showcase their values in a careful market environment.
Quiet situations can change in the blink of an eye after the decision of the FOMC meeting and the pattern at the end of the week may not be the same as a few days before.
Meanwhile, the FOMC meeting event, investors will focus on UK inflation data reports in European sessions and in the New York session, attention is given to the Canadian Central Bank Policy Meeting.
Bank of Canada (BOC) is expected to lower interest rates by 25 basis points from 2.75% to 2.50%.
